BANGALORE (Reuters) – Bad credit? Require cash now? Simply grab that electric electric guitar in the part and mind for the pawn store. Cash-strapped Д±ndividuals are swapping precious precious jewelry, music systems and gadgets that are electronic money like nothing you’ve seen prior.
“The pawn deal is a simple, no-questions-asked loan that is secured’s working well for folks,” Sterne Agee analyst Henry Coffey stated.
U.S. payday lenders, whom make tiny, short-term loans up against the borrower’s next paycheck, are spending more inside their pawn operations as stricter regulations and rising jobless make their main company less appealing.
Loan providers like Ezcorp Inc, First Cash Financial solutions Inc and money America Global Inc have experienced reduced earnings in the payday front side but strong outcomes from their pawn operations.